Buhari Seeks Senate’s Approval for $566.7m, £98.5m, N226.2m Promissory Notes  – THISDAYLIVE


Sunday Aborisade in Abuja

Barely four days to the end of his administration, President Muhammadu Buhari on Wednesday asked the Senate to approve a request to pay judgment debt in the sum of $566,754,584.31, £98,526,012.00 and N226,281,801,881.64.

He said it was judgment debt owed by the federal government through the issuance of promissory notes. 

Buhari’s letter of request was read at plenary by Senate President Ahmad Lawan. 

A promissory note is a signed document containing a written promise to pay a stated sum to a specified person or the bearer at a specified date or on demand.

It is a key piece of a home loan application and mortgage agreement, ensuring that a borrower agrees to be indebted to a lender for loan repayment.

Buhari’s letter read in part: “The Distinguished Senate President may wish to be informed that the Federal Executive Council (FEC) at its meeting of March 29, 2023 approved the liquidations of top priority judgment…

Source: Thisday Newspaper